Cigna Investments Inc. New Takes Position in Live Nation Entertainment, Inc. (NYSE:LYV)

Cigna Investments Inc. New acquired a new position in shares of Live Nation Entertainment, Inc. (NYSE:LYV) in the fourth quarter, according to its most recent 13F filing with the SEC. The institutional investor acquired 1,645 shares of the company’s stock, valued at approximately $213,000.

Several other institutional investors and hedge funds also recently added to or reduced their stakes in the stock. Principal Financial Group Inc. grew its position in shares of Live Nation Entertainment by 1.2% in the 3rd quarter. Principal Financial Group Inc. now owns 7,196,551 shares of the company’s stock worth $787,950,000 after buying an additional 87,032 shares during the last quarter. Geode Capital Management LLC grew its holdings in Live Nation Entertainment by 9.4% in the third quarter. Geode Capital Management LLC now owns 3,763,557 shares of the company’s stock worth $410,664,000 after purchasing an additional 321,832 shares during the last quarter. Massachusetts Financial Services Co. MA increased its position in shares of Live Nation Entertainment by 37.1% during the third quarter. Massachusetts Financial Services Co. MA now owns 1,423,428 shares of the company’s stock worth $155,851,000 after purchasing an additional 385,143 shares in the last quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC lifted its holdings in shares of Live Nation Entertainment by 55.9% during the 3rd quarter. UBS AM a distinct business unit of UBS ASSET MANAGEMENT AMERICAS LLC now owns 1,079,064 shares of the company’s stock valued at $118,147,000 after purchasing an additional 387,008 shares during the last quarter. Finally, ValueAct Holdings L.P. acquired a new stake in shares of Live Nation Entertainment in the 3rd quarter worth $111,094,000. Hedge funds and other institutional investors own 74.52% of the company’s stock.

Analysts Set New Price Targets

A number of research firms have commented on LYV. Citigroup increased their price target on Live Nation Entertainment from $130.00 to $163.00 and gave the company a “buy” rating in a research note on Wednesday, November 20th. TD Cowen lifted their price target on Live Nation Entertainment from $108.00 to $145.00 and gave the stock a “buy” rating in a research report on Tuesday, November 12th. Deutsche Bank Aktiengesellschaft raised their price objective on Live Nation Entertainment from $130.00 to $150.00 and gave the stock a “buy” rating in a research note on Tuesday, November 19th. The Goldman Sachs Group upped their target price on Live Nation Entertainment from $132.00 to $148.00 and gave the company a “buy” rating in a research report on Wednesday, November 13th. Finally, Guggenheim lifted their price objective on shares of Live Nation Entertainment from $146.00 to $155.00 and gave the company a “buy” rating in a research note on Wednesday, December 4th. Two research analysts have rated the stock with a hold rating and fifteen have given a buy rating to the company’s stock. According to data from MarketBeat, Live Nation Entertainment currently has a consensus rating of “Moderate Buy” and an average target price of $145.40.

Live Nation Entertainment Stock Down 0.4 %

Live Nation Entertainment stock opened at $146.68 on Wednesday. Live Nation Entertainment, Inc. has a 12 month low of $86.81 and a 12 month high of $152.11. The stock has a market capitalization of $34.08 billion, a PE ratio of 156.04, a price-to-earnings-growth ratio of 1.73 and a beta of 1.38. The company has a debt-to-equity ratio of 6.10, a current ratio of 1.01 and a quick ratio of 1.01. The business has a 50 day simple moving average of $136.50 and a 200-day simple moving average of $119.36.

Live Nation Entertainment (NYSE:LYV) last posted its quarterly earnings data on Monday, November 11th. The company reported $1.66 earnings per share for the quarter, topping analysts’ consensus estimates of $1.58 by $0.08. Live Nation Entertainment had a net margin of 2.11% and a return on equity of 77.62%. The company had revenue of $7.65 billion during the quarter, compared to analysts’ expectations of $7.75 billion. During the same period in the prior year, the business posted $1.78 earnings per share. The firm’s revenue for the quarter was down 6.2% on a year-over-year basis. On average, analysts anticipate that Live Nation Entertainment, Inc. will post 0.99 EPS for the current fiscal year.

Live Nation Entertainment Company Profile

Live Nation Entertainment, Inc operates as a live entertainment company worldwide. It operates through Concerts, Ticketing, and Sponsorship & Advertising segments. The Concerts segment promotes live music events in its owned or operated venues, and in rented third-party venues. This segment operates and manages music venues; produces music festivals; creates and streams associated content; and offers management and other services to artists.